Articles & Videos

How Retailers Can Prepare for New Lease Accounting Standards

2019-04-17T10:39:31+00:00April 17th, 2019|LEASE ACCOUNTING|

Brick-and-mortar stores remain a vital component of multichannel sales strategies, despite the steady march of e-commerce. And for many retailers, leasing that real estate (rather than buying it outright) has been the most economically expedient option. Starting in 2020, nonpublic companies that report according to U.S. Generally Accepted Accounting Principles (GAAP) will be required to [...]

Is It Time for a Business Valuation?

2019-04-09T12:16:21+00:00April 9th, 2019|BUSINESS CONSULTING|

Business owners often have a majority of their personal net worth tied up in the business. However, many owners are unsure how much their greatest asset is really worth, putting them at a disadvantage in making decisions that range from estate planning to deciding when to sell the business. A common misconception about business valuations [...]

CRI GAINESVILLE – ROBERT LEMMON & APRIL SHUPING: FGFOA Annual Conference

2019-04-09T14:17:59+00:00April 9th, 2019|Around Town|

CRI Partners Robert Lemmon and April Shuping will present at the Florida Government Financial Officers Association Annual Conference. This conference is a multi-day event covering a variety of accounting topics that are specifically applicable to governmental entities in Florida. Their session will discuss some key factors to be considered when accounting for estimates and will go into [...]

What to Consider When Deciding Between a Calendar Year and a Fiscal Year

2019-04-02T21:05:27+00:00April 2nd, 2019|BUSINESS TAX|

It is common for organizations to use a calendar year, as opposed to a fiscal year, as the tax year calendar for their company. The choice is made easy but its intuitiveness and tends to line up with personal returns—this makes things simple and easy. However, many businesses have dominating operating seasons that don’t always [...]

CRI BRADENTON – CHRISTY CARDILLO: Qualified Opportunity Zones

2019-04-01T11:00:03+00:00April 1st, 2019|Around Town|

CRI Partner Christy Cardillo will participate in a panel discussion related to Qualified Opportunity Zones in Sarasota County on April 24, 2019, at 8 a.m. at the Payne Park Auditorium. This will be a general discussion about QOZs.  The panel includes Shay Atluru, President/CEO of DTC, Inc. as Moderator; Christy Cardillo; Steven Stancel, General Manager of Economic [...]

Additional Relief from IRS for Taxpayers who Underpaid on Their Income Taxes in 2018

2019-03-29T12:56:06+00:00March 29th, 2019|INDIVIDUAL TAX|

Based on a combination of wage withholdings and quarterly tax estimates, the U.S. tax system utilizes a system that requires taxpayers to "pay-as-you-go," as opposed to waiting until the end of the year to pay income taxes. Under the current law, if you fail to pay 90% of your current year tax, the results of [...]

Beware of Potential IRS Phone Call Scams

2019-03-27T16:43:09+00:00March 27th, 2019|INDIVIDUAL TAX|

During the early months of the year, tax filing season quickly becomes tax scamming season. In the hopes of focusing public attention on this problem, the IRS has released its annual list of the Dirty Dozen tax scams—many of which lead to identity theft. It is always easy to become overconfident in your ability to detect fraud. [...]

Differentiating Between Independent Contractors and Employees

2019-03-28T09:13:18+00:00March 27th, 2019|BUSINESS TAX, CLIENT ACCOUNTING SERVICES|

Many businesses believe that misclassifying employees as independent contractors is not necessarily an issue as long as they meet all tax obligations. However, this is not the case. It has become extremely common in recent years for both federal and state authorities to begin cracking down on the improper classification of workers. Consider the Advantages [...]

CRI BIRMINGHAM – BRIAN BARKSDALE: Trussville, AL Daybreak Rotary Club Meeting

2019-03-27T11:09:29+00:00March 27th, 2019|Around Town|

CRI Partner Brian Barksdale will speak at the regular meeting of the Trussville, AL Daybreak Rotary Club on April 3, 2019. He will present on fraud in business, focusing on prevention and detection procedures.

Understanding the New Kiddie Tax

2019-03-18T20:56:25+00:00March 18th, 2019|INDIVIDUAL TAX|

The Tax for Certain Children Who Have Unearned Income, informally known as the “Kiddie Tax,” can sneak up on unsuspecting taxpayers. This section of the Tax Code was initially created to prevent taxpayers from reducing their tax bill by shifting some of their unearned income — such as interest, dividends, and capital gains — into [...]

Is a Captive Right for Your Organization?

2019-03-18T14:37:12+00:00March 18th, 2019|CAPTIVE INSURANCE|

Not all organizations are good candidates for the formation of a captive insurance company. In most cases, captives tend to make the most sense for organizations that; are comfortable with managing their risks internally are comfortable with the retention of certain levels of risk have competent risk management professionals in place to lead the captive [...]

3 Benefits of Creating a Captive

2019-03-18T11:27:18+00:00March 18th, 2019|CAPTIVE INSURANCE|

What is a captive insurance company? This is a common question and one that can be answered in many different ways, as there are numerous different captive programs and structuring options. Perhaps the simplest definition for a captive insurance company is an insurance company that is owned by its insured(s). Captives are real insurance companies [...]

Captive Insurance Overview: Healthcare Provider Industry Highlights

2019-03-15T11:46:10+00:00March 15th, 2019|CAPTIVE INSURANCE, HEALTHCARE|

Healthcare provider captive insurance arrangements represent approximately 15% of the global captive insurance market and are currently one of the largest growing sectors within the captive industry due to the changing risk landscape that healthcare organizations are facing. Approximately 75% of hospitals now have some form of alternative risk management in place for their professional [...]

What Public Entities Can Teach Us About Revenue Recognition

2019-03-04T12:08:25+00:00February 28th, 2019|REVENUE RECOGNITION|

Any new accounting standard can throw us for a loop, but the new revenue recognition standard has made an especially strong impact. Not all revenue-generating activities fall under the purview of the new standard, but the changes are far-reaching and will affect a multitude of revenue streams in almost all industries. Public organizations should have [...]

Health Insurance Options for Small Businesses and Their Tax Implications

2019-03-04T11:19:30+00:00February 27th, 2019|BUSINESS TAX, SMALL BUSINESS|

As health insurance plays a bigger role in our political discourse, it becomes even more of a concern for small businesses. Already, more businesses are required to offer health insurance than in years past, and more individuals are demanding health coverage as a condition of their employment. When you consider the effects on employee retention, [...]

Seven Keys to Improving Medical Practice Cash Flow

2019-03-14T15:11:44+00:00February 23rd, 2019|HEALTHCARE|

No matter what specialties their physicians may have, healthcare practices must focus on collecting payments to remain profitable. Here are seven ways that practices can more accurately track patient collections. 1. Educate Personnel Personnel plays a significant role in the collection process. Delegating collection responsibilities to different staff members can improve a practice’s collection performance. [...]

How to Properly Organize Your Tax Records

2019-02-19T14:26:26+00:00February 21st, 2019|BUSINESS TAX, INDIVIDUAL TAX|

There never seems like a good time to organize your tax records, but the period of time between filings last year’s taxes and this year’s return can usually be the perfect time. While this task is never an exciting one, get it done and out of the way will only save you time and plenty [...]

CRI BRADENTON – CHRISTY CARDILLO: Manatee Chamber of Commerce Opportunity Zone Information Session

2019-02-19T14:28:53+00:00February 19th, 2019|Around Town|

CRI partner Christy Cardillo will join other Manatee County professionals to present an Informational Session surrounding Opportunity Zones on February 25, 2019. They will present on how the community can benefit from this new tax law, how to invest, and where investments can be made.

CRI BIRMINGHAM – BRIAN BARKSDALE: Alabama League of Municipalities Annual Convention

2019-02-19T14:19:10+00:00February 19th, 2019|Around Town|

CRI partner Brian Barksdale will present Municipal Budgeting: A Balancing Act at the Alabama League of Municipalities Annual Convention on May 6, 2019. He will review the importance of proper financial budgeting for municipalities and the impact on city management decisions and actions.

Taking Advantage of the Tax-Efficient Exit Strategy that ESOPs Offer

2019-02-19T10:33:03+00:00February 19th, 2019|BUSINESS TAX|

When you own a closely held company, and you start approaching retirement age, it’s easy to struggle with balancing conflicting goals for your business. In a case like this, an employee stock ownership plan (ESOP) may be the best answer. Take a Closer Look It’s common for business owners to have to tap at least [...]